Public Employees Retirement System of Ohio increased its stake in NewMarket Co. (NYSE:NEU) by 14.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,100 shares of the specialty chemicals company’s stock after purchasing an additional 383 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in NewMarket were worth $1,243,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Martingale Asset Management L P lifted its holdings in NewMarket by 28.6% in the first quarter. Martingale Asset Management L P now owns 900 shares of the specialty chemicals company’s stock worth $391,000 after purchasing an additional 200 shares during the period. WINTON GROUP Ltd lifted its holdings in NewMarket by 10.1% in the second quarter. WINTON GROUP Ltd now owns 59,603 shares of the specialty chemicals company’s stock worth $23,897,000 after purchasing an additional 5,461 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in NewMarket in the first quarter worth about $673,000. BNP Paribas Arbitrage SA raised its position in NewMarket by 3,890.7% in the second quarter. BNP Paribas Arbitrage SA now owns 11,573 shares of the specialty chemicals company’s stock worth $4,640,000 after acquiring an additional 11,283 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in NewMarket by 28.2% in the first quarter. Great West Life Assurance Co. Can now owns 7,004 shares of the specialty chemicals company’s stock worth $3,032,000 after acquiring an additional 1,539 shares in the last quarter. 55.49% of the stock is owned by institutional investors and hedge funds.
NewMarket stock traded up $3.11 during midday trading on Friday, hitting $466.68. The company’s stock had a trading volume of 846 shares, compared to its average volume of 68,218. The company has a quick ratio of 1.60, a current ratio of 2.93 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average price is $463.39 and its 200-day moving average price is $429.51. NewMarket Co. has a 12 month low of $352.89 and a 12 month high of $489.11. The company has a market capitalization of $5.09 billion, a PE ratio of 22.96 and a beta of 0.46.
NewMarket (NYSE:NEU) last issued its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $6.63 EPS for the quarter, topping the consensus estimate of $5.16 by $1.47. NewMarket had a net margin of 11.70% and a return on equity of 47.25%. The firm had revenue of $563.42 million for the quarter. As a group, equities analysts anticipate that NewMarket Co. will post 23.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a $1.90 dividend. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from NewMarket’s previous quarterly dividend of $1.75. This represents a $7.60 annualized dividend and a yield of 1.63%. NewMarket’s payout ratio is 37.36%.
Several brokerages have commented on NEU. Zacks Investment Research upgraded shares of NewMarket from a “hold” rating to a “strong-buy” rating and set a $512.00 price target on the stock in a research report on Friday, August 9th. Buckingham Research upgraded shares of NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 price target on the stock in a research report on Friday, August 2nd.
NewMarket Company Profile
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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